Orthogonal Thinker, a provider of plant products as well as psychoactive compounds, has raised $6 million in funding. The investors included Republic Labs and Pay It Forward.
KIHEI, HAWAII (April 27, 2020) –Orthogonal Thinker, Inc. (“Orthogonal” or the “Company”), a platform company focused on health and well-being through clean-label, whole plant products as well as psychoactive compounds, announced today that it has closed a total of $6M in a series of oversubscribed seed rounds, which included investments from lead investors such as Republic Labs and Pay It Forward, along with other notable investors.
“Our investment into Orthogonal Thinker signals our conviction in the team and company. We admire what David Nikzad has built and believe in the company’s potential to become the leading brand in mental health and wellness.” – Christian Sullivan, Co-Founder of Republic Labs.
Orthogonal intends to use this funding to propel Ei.Ventures, its wholly-owned psychoactive compounds and technology subsidiary, with the intention of making it the largest American-owned psychedelic company. A large portion of the funds will be used to purchase a vertically integrated clinical lab and facility, which will be home to future clinical trials and compound formulations.
“We looked for investors who believed in building a sustainable business in the mental heal and wellness space. I have been passionate about this space for over 15 years and have no intention of rushing our strategy,” notes Founder of Orthogonal Thinker, David Nikzad, who vets each investor individually, ensuring that missions are aligned.
Funding will also be used to begin Phase 1 Clinical Trials for Psilly, the company’s flagship, psychedelic product, which emphasizes the utilization of clean and natural formulas from whole plants versus biosynthetic methods as traditionally seen in the industry. The Company recently filed a patent application for Psilly.
“We have assembled a team of renowned scientists, policy leaders, legal experts, and business leaders to help with existing patents and further patenting our formulations. In the coming years, we believe that we will witness a worldwide paradigm shift regarding psilocybin and other psychoactive compounds, which will generate a multibillion dollar industry. We will be at the forefront of the movement,” said Co-Founder and CEO, Jason Hobson.
Launched in 2016, the Company’s initial success has come from a focus on brands that are rooted in well-being and empowerment across a variety of industries, including travel, food and beverage, and more. Orthogonal continues to innovate in this ever-evolving industry through the establishment of brands such as Ei.Ventures and PsillyLife, which aim to foster mainstream acceptance for medical and legal adult-use psychedelics, encourage education in and democratization of the space, and modernize industry approach to the psychedelic space by focusing on effective and natural formulations; all with the goal to positively impact how mental health is treated and sustained.
For more information about Orthogonal Thinker Inc., visit www.orthogonalthinker.com.
About Orthogonal Thinker Inc.
Orthogonal is a platform company focused on health and well-being through clean-label, whole plant products and prodrugs, including psychoactive compounds. Orthogonal utilizes deep learning technology and emotional intelligence (EI) to elevate and empower humanity with plant medicine to set a new standard for health and mental wellness. We call it a “New Standard of Farma.”
Empowering mental wellness through psychoactive compounds and technology. Our ambition is to deliver governmental approved therapeutic treatment options that address the current global mental healthcare pandemic. For more information about Ei.Ventures, visit www.ei.ventures.
About Psilly Life
PsillyLife is the Company’s lifestyle brand and was conceived to promote education and awareness surrounding the benefits of psilocybin to a worldwide audience.